Dell sets price talk on high-yield bond: sources
NEW YORK, Sept 20 (IFR) - Dell has set price talk on its US$2 billion seven-year non-call three first lien high yield bond at 5.5%-5.75%, and has dropped plans for a more expensive US$1.25 billion second lien bond, market sources said on Friday.
The second lien bond will be fully replaced by loans.
The rejig, reported earlier by IFR and RLPC, will significantly reduce the cost of financing the management buyout of the roughly USD25bn management buyout of the business.
Books close on Monday at noon.
Credit Suisse, Barclays, Bank of America Lynch, RBC and UBS are leading the financing.
For earlier stories, see
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